Three-way battle for media rights brightens up BCCI's mood
Apr 04, 2018, 02:03
The e-auction of television and digital rights, a first in cricket, was not concluded but the Indian board (BCCI) received a bid of 44.4 billion Indian rupees ($683 million) for consolidated global rights from an unidentified bidder. At the same time, between 2019 and 2023, for the TV, 40 crores per match, while the BCCI has reserved Rs 7 crores for the digital rights.
Interestingly, Reliance - along with Star India and Sony Pictures - played it safe as five bids were placed during the four-hour auction window on Tuesday. The Indian cricket board tweeted regular updates with the initial top bid of INR 4176 Crores for the GCR package, while the subsequent ones were INR 4201.20 Crores, INR 4244 Crores.
Experts opine Star who have already spent as many as Rs 16000 crore for a five year IPL rights cycle and a reported Rs 12,000 crore for 8 years period to acquire ICC event rights may still be an interested party in these rights.
The Board of Control for Cricket in India (BCCI), through its Invitation to Tender (ITT) had invited bids for Global Television Rights plus Rest of the World Digital Rights Package, Indian Subcontinent Digital Rights Package and Global Consolidated Rights Package.
"The online auction will now resume on Wednesday...from the same stage", the BCCI said in a statement.
The bid process to stop at 6:00 pm today (Tuesday). Like the IPL broadcast and digital rights, the bidders have showed a lot of interest in the global category, meaning there are no two parties involved.
While the closed bidding is a one-time process, the e-auction will allow the companies to file incremental bids (with fixed slabs) after each round till competitors pull out of the race.
"Think the IPL auctions provided an idea of how to go about this auction, because everybody is going for the GCR". The highest bidder remaining gets awarded the ownership of the rights.
The Global Consolidated Rights package bid is up to ₹4,244 crore. "SPN doesn't have a big digital platform, but if they have a partnership with Facebook or Google, all will benefit", a market analyst told Express.
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